Shingles Vaccines Market Size, Share, Industry Trends and Forecast to 2033
This report provides an in-depth analysis of the Shingles Vaccines market, focusing on market size, growth potential, and trends from 2023 to 2033. Key segments, regional insights, and forecasts are included to offer a comprehensive view of this evolving industry.
| Metric | Value |
|---|---|
| Study Period | 2023 - 2033 |
| 2023 Market Size | $3.50 Billion |
| CAGR (2023-2033) | 7.5% |
| 2033 Market Size | $7.37 Billion |
| Top Companies | Merck & Co., Inc., GlaxoSmithKline (GSK), Sanofi Pasteur, Pfizer Inc. |
| Last Modified Date | 15 November 2024 |
Shingles Vaccines Market Overview
What is the Market Size & CAGR of Shingles Vaccines market in 2023 and 2033?
Shingles Vaccines Industry Analysis
Shingles Vaccines Market Segmentation and Scope
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Shingles Vaccines Market Analysis Report by Region
Europe Shingles Vaccines Market Report:
Europe's market is projected from $1.06 billion in 2023 to $2.24 billion by 2033, influenced by strong vaccination policies and high healthcare expenditure among countries.Asia Pacific Shingles Vaccines Market Report:
The Asia Pacific region shows a promising growth trajectory with a market size of $0.67 billion in 2023, expected to reach $1.42 billion by 2033. The rising population over 50, coupled with increasing healthcare infrastructure investment, is driving the demand for shingles vaccines.North America Shingles Vaccines Market Report:
North America, the leading market, has a significant size of $1.21 billion in 2023, anticipated to grow to $2.54 billion by 2033. High awareness levels and extensive healthcare access are major growth drivers in this region.South America Shingles Vaccines Market Report:
In South America, the market is relatively smaller, valued at $0.13 billion in 2023 and projected to be $0.26 billion by 2033. The adoption of vaccines is increasing due to health campaigns, although challenges such as distribution hurdles remain.Middle East & Africa Shingles Vaccines Market Report:
In the Middle East and Africa, the market, valued at $0.43 billion in 2023, is expected to reach $0.91 billion by 2033. Growth is driven by improving healthcare systems and rising awareness about shingles vaccination.Request a custom research report for industry.
Shingles Vaccines Market Analysis By Product
Global Shingles Vaccines Market, By Product Market Analysis (2024 - 2033)
Total market for live vaccines is expected to reach $6.42 billion by 2033, maintaining an 87.17% share across the years, while recombinant vaccines are projected to increase from $0.45 billion to $0.95 billion by 2033, representing a smaller yet significant portion.
Shingles Vaccines Market Analysis By Administration Route
Global Shingles Vaccines Market, By Administration Route Market Analysis (2024 - 2033)
IIntradermal routes accounted for $3.05 billion in 2023 and are projected to rise to $6.42 billion by 2033, while subcutaneous routes, currently $0.45 billion, are expected to reach $0.95 billion.
Shingles Vaccines Market Analysis By Age Group
Global Shingles Vaccines Market, By Age Group Market Analysis (2024 - 2033)
The market for individuals aged 50 years and older is expected to reach $6.42 billion by 2033, while the market for those under 50 years is anticipated to grow from $0.45 billion to $0.95 billion.
Shingles Vaccines Market Analysis By End User
Global Shingles Vaccines Market, By End-User Market Analysis (2024 - 2033)
Hospitals remain the primary end-user segment, growing from $2.27 billion in 2023 to $4.77 billion by 2033, while pharmacies and clinics also contribute to increasing market sizes of $1.57 billion and $1.03 billion respectively.
Shingles Vaccines Market Analysis By Distribution Channel
Global Shingles Vaccines Market, By Distribution Channel Market Analysis (2024 - 2033)
Direct sales dominate the distribution channel, expected to grow to $4.77 billion by 2033, while online sales and retail pharmacies are projected to achieve significant market sizes of $1.57 billion and $1.03 billion respectively.
Shingles Vaccines Market Trends and Future Forecast
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Global Market Leaders and Top Companies in Shingles Vaccines Industry
Merck & Co., Inc.:
Merck is a leading player in the Shingles Vaccines market, known for its Zostavax and Shingrix vaccines, which address the rising need for shingles prevention.GlaxoSmithKline (GSK):
GSK manufactures Shingrix, a highly effective vaccine that has contributed significantly to the market's growth and is recognized for its efficacy in preventing shingles.Sanofi Pasteur:
Sanofi Pasteur is involved in developing vaccines aimed at providing immunization against herpes zoster and is expanding its presence in several regions.Pfizer Inc.:
Pfizer is actively engaged in research for innovative vaccine solutions including those for shingles, contributing to the overall market development.We're grateful to work with incredible clients.
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FAQs
What is the market size of shingles Vaccines?
The global shingles vaccines market is valued at approximately $3.5 billion in 2023, with a projected CAGR of 7.5% from 2023 to 2033, indicating significant growth potential in the coming years.
What are the key market players or companies in this shingles Vaccines industry?
Key players in the shingles vaccines market include leading pharmaceutical companies like Merck & Co., GlaxoSmithKline, and Sanofi. These companies are focused on innovation and expanding their product offerings to capture greater market share.
What are the primary factors driving growth in the shingles vaccines industry?
Growth in the shingles vaccines market is driven by increasing awareness of shingles, rising geriatric populations, and advances in vaccine technology. As healthcare systems emphasize prevention, vaccination rates are expected to rise considerably.
Which region is the fastest Growing in the shingles vaccines market?
The Asia-Pacific region is projected to experience the fastest growth in the shingles vaccines market, expanding from $0.67 billion in 2023 to $1.42 billion by 2033, highlighting the region's growing demand for vaccination.
Does ConsaInsights provide customized market report data for the shingles vaccines industry?
Yes, ConsaInsights offers customized market report data for the shingles vaccines industry. Clients can request tailored insights based on their specific needs, ensuring relevant and actionable data.
What deliverables can I expect from this shingles vaccines market research project?
Deliverables from the shingles vaccines market research project include comprehensive reports, data analysis, market forecasts, and segmented insights that cover regions, market players, and industry trends to guide strategic planning.
What are the market trends of shingles vaccines?
Market trends in the shingles vaccines industry reflect a growing preference for live vaccines, which hold a substantial market share. There's also a notable shift towards online and retail pharmacies, enhancing accessibility for consumers.